Quote from: gigatux on February 01, 2018, 07:07:55 AM

Quote from: Zackgeno96 on February 01, 2018, 07:01:16 AM

Indian Finance minister has presented the financial budget for the year 2018 and he said 'investors should keep in mind that government doesn't consider them as legal tender" It means that government has not banned them completely and people can still invest into the cryptocurrencies. However, he also said that government will make sure to curb the illegal transactions funded by cryptocurrencies. In addition, he also mentioned that government will study the blockchain technology to make the payment faster.

There were lot of excitement about the government's stance on cryptos but its not a good news for the investors. I fear what if people start diverting their money from cryptos to stock market ?

Although the Indian Finance Minister says cryptocurrencies are not a legal tender but still they did not ban it. It means that they are still studying the effect of cryptocurrencies whether if it is good or bad. It needs to outweigh the negative issues of cryptocurrencies so that the Indian government will only create regulations and not banning it.

Yes,you are right,the Indian government want to regulate the crypto currency usage in their countries rather than banning it.Because it can help to increase their country's revenue by a lot by implementing the taxes.